Best Video Company is a manufacturer of video-conferencing products. Regular units are manufactured to meet marketing projections, ard specialsed inits are irade affer an order is receined Maintaining the video-conferencing equipment is an important area of customer satisfaction. With the recent downtum in the cornputar industry, the video-conferencing equipment tefprert has suffered, leading to a decline in Best Video's financial performance. The following income statement thows results for this yoar. (Click the icon to view the income statement) Best Video's management team is in the process of preparing the budget for next year and is studying the folowing informatice: (Cick the icon to view the information.) Prepare a budgeted income statement for the year ending December 31, next year, (Round your answers to the nearett whole aura) Best Video Company Budgeted Income Statement for next year (in thousands) Revenues: Equipment Maintenance contracts Total revenues Cost of goods sold Gross margin Operating costs Marketing Distribution Customer maintenance Administration Total operating costs Operating income Data table More info 1. Seling prices of equipment are expected to increase by 15% as the economic recovery begins. The selling price of each maintanance contract is axpected to remain unchanged from this year. 2. Equipment saies in units are expected to increase by B\%, with a cortesponding 8\% growth in units of maintenance contracts. 3. Cost of each unit sold is expected to increase by 5% to pay for the necossary technology and quality improvements. 4. Marketing costs are expected to increase by 2270.000 , but administration costs are expected to remain at this year leveis. 5. Distribution costi vary in proportion to the number of unite of equipment wold. 6. Two mairienance technicians are to be hired at a total cost of 4160.000 , which covers wages and related travel costs. The objective is to improve cuisorer service and shorten response time. 7. There is ne beginning or ending imentory of equipmant